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Informist, Monday, Jul. 27, 2026

 

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--CONCOR:Incurred capex of INR 1.2 bln Q1; plan to spend INR 9.5 bln in FY27
--CONTEXT: Comments by CONCOR mgmt in post-earnings analyst conference call
--CONCOR: See FY27 overall volume growth at 18% on yr
--CONCOR: See FY27 export-import ops volume growth at 15% on yr
--CONCOR: See FY27 domestic ops volume growth at 25% on yr
--CONCOR: Expect to see good growth in Nepal ops going forward
--CONCOR: W Asia war impacted cos ops in Q4 FY26, not as much in Q1
--CONCOR: Double stacking saw 12?ll in Q1, hope it picks up now
--CONCOR: Have 700 tank containers, have given orders for 2,000 more
--CONCOR: Will have a strong fleet of tank containers by end of FY27
--CONCOR: Ops from Morbi have picked up, but still below pre-war levels
--CONCOR: Will launch assured transit trains from Oct once monsoon ends

By Anand JC and Shruti Nair

 

MUMBAI – Container Corp. of India Ltd. has increased its volume guidance for 2026-27 (Apr-Mar) on hope of better performance in the remainder of the financial year on the back of "many developments" happening in its export-import and domestic businesses. "There are a lot of things which are happening...now all these things are materialising and we have nine more months in this financial year," the company's chairman and managing director Sanjay Swarup told analysts in a post-earnings conference call.

 

The company expects volumes of its export-import business to grow 15% on year in FY27, up from 8% guided for in late May. Volumes of its domestic business are forecast to improve 25% on year from its previous guidance of a 15% growth. CONCOR expects its overall volumes in FY27 to grow 18% on year, higher than previous guidance of 9.5%.  

 

Swarup said CONCOR saw an improvement in its market share across businesses in the June quarter. Its market share in the export-import business improved by 90 basis points, domestic by 370 bps and overall by 160 bps. "Lead (time) has also increased overall by 2% for the company, primary contributions being in domestic long-lead movement, Nepal movement, and double-stack for JNPT (Jawaharlal Nehru Port Authority)," Swarup said. 

 

Lead time refers to the total amount of time elapsed from the time a cargo transport or container booking is initiated until the goods are delivered and unloaded at their final destination. Double stacking is the practice of loading one shipping container directly on top of another on a single freight train car.

 

The company's operations in Nepal saw an improvement in the June quarter. Volume of business there increased 61% on year. The company ran 111 trains between Visakhapatnam and Nepal in the reporting quarter, up from 69 in the year-ago period.

 

CONCOR recently introduced transportation of bulk cement in tank containers. The company has a fleet of 700 tank containers and has given orders for 2,000 more. "By this financial year-end, we will have a very good fleet of tank containers which will positively contribute to both top line as well as bottom line," Swarup said. The company is currently unable to meet all of the demand in this business because of a shortage of tank containers.

 

"Some of our big customers are themselves procuring tank containers for transportation of bulk cement and using our rakes for transportation...and once the full fleet of tank containers is available with us, we are targeting at least 1 million tonnes traffic of bulk cement every year, maybe from next financial year," Swarup said.

 

Late Friday, the company reported a net profit of INR 2.78 billion on revenues of INR 21.54 billion for the June quarter. CONCOR incurred a capital expenditure of INR 1.18 billion in the reporting quarter and is on track to spend INR 9.45 billion in FY27.

 

CONCOR serves as the primary multi-modal rail link connecting major marine gateways, including the Jawaharlal Nehru Port Trust to the domestic hinterland. The company runs high-capacity container trains along the Western Dedicated Freight Corridor, linking the aforementioned port to major northern hubs, among other activities.

 

Currently, the rail coefficient at Jawaharlal Nehru Port Trust is 15-16%. This metric is the percentage share of a port's total container or cargo traffic which is transported by rail, rather than by road. "I expect that once DFC (Dedicated Freight Corridor) has been commissioned, so in another two to three years' time, we should have double rail coefficient; at least it should be 30-35%," Swarup said. 

 

 

Double stack operations contracted 12% on year in the June quarter, but the company is hopeful of it improving in the coming weeks. Double-stacked trains have started operating between Jawaharlal Nehru Port Trust to Dadri in Greater Noida to Khatuwas in Rajasthan and Varnama in Gujarat, Swarup said. "We are in talks with senior officers of Indian Railways. Once the monsoon completes its cycle, from October, we will announce an assured transit time train between North India and JNPT (Jawaharlal Nehru Port Trust), which will enable movement of cargo from road to rail," he said. 

 

CONCOR earns a majority of its revenue from its export-import business. Through this, it manages the movement of international containerised cargo between landlocked industrial hubs and India's marine gateways through its multi-modal network. The company said this business was negatively impacted by the ongoing war in West Asia in the March quarter, but not as much in the June quarter. 

 

"There has been a 9% growth in exports and 5% growth in imports in Q1 YoY (on year) basis. So in this quarter also till now, performance has been quite okay. But because of the good monsoons, the disruptions in train services are there," Swarup said. Volumes transported by the company in the ongoing September quarter would've been higher, but for the heavy rains in Mumbai in June and select areas of Gujarat in July. Swarup said business from companies in Gujarat's Morbi, which is a ceramic manufacturing hub, has improved, but is still below pre-war levels. 

 

Cargo, by weight, carried by CONCOR declined in the June quarter. Railway tonnage fell 3.3% and export-import tonnage fell 1.8% in this period. "The reason is the heavy cargo, which is metal scrap, iron scrap, aluminium scrap, machinery parts; they have not come. So, even though the number of containers has increased, the weight carried, that is, the heavyweight cargo, has not come," Swarup said. As a result, the company carried light cargo and saw moderation in realisations. At 1344 IST, shares of the company traded 7% higher at INR 511 on the National Stock Exchange.  End

 

Edited by Akul Nishant Akhoury

 

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